Bitcoin Spot ETF Sees $2.73 Billion Inflows In Five Days, BTC Volume Surged 52.54%

Last week (December 2 to December 6, Eastern Time), Bitcoin spot ETFs had a weekly net inflow of US$2.73 billion, reaching the second-highest weekly net inflow in history. BlackRock ETF IBIT had a weekly net inflow of US$2.63 billion. Bitcoin (BTC), the first cryptocurrency in the world by market cap, achieved $100k for the first time in history on 5 December, driven by President Donald Trump’s crypto-friendly announcement.Analysts think Trump supports crypto to attract investors hoping for crypto-friendly policies.

U.S. Spot ETFs play a crucial role in helping Bitcoin break the $100K barrier. U.S. spot ETFs have surpassed Satoshi Nakamoto. A Sosovalue post revealed that Bitcoin ETFs saw a $376.59 million inflow on Friday. BlackRock IBIT (ishares) led this surge with a $257 million inflow. IBIT owns 2.38% of all Bitcoin, with its latest post showing it has 500,380 BTC on its books, worth around $48 billion at current market prices.

Bitcoin set an all-time high of $104322 for 90 minutes on December 5, while Bitcoin Price passed Struggle. At the time of writing, Bitcoin Price dipped 0.73% over the past 24 hours. Bitcoin gained 3.67% over the past seven days and 28.97% pumped in the last month. Bitcoin was trading at $98,757.41, and single-day volume rose 53.55%, according to coinmarketcap.

U.S Spot Ether Set Record For Weekly Net Inflows

The U.S Spot Ethereum exchange Traded-Fund saw a positive flow. Last week (December 2 to December 6, EST), Ethereum spot ETFs had a net inflow of $837 million, reaching a record high for weekly net inflows. The Ethereum spot ETF with the largest weekly net inflows last week was Blackrock’s Ethereum ETF ETHA, with a weekly net inflow of $573 million.

On Friday, Blackrock ETHA, the largest spot Ether ETF by net assets, saw a $34.6 million inflow. Likewise, Fidelity FETH led this surge with a $47.9 million inflow. Grayscale ETH and Bitwise ETHW booked $22.9 million and $13.4 million inflow, respectively. Grayscale ETHE was the only one to see an outflow of $29.6 million. The other two Ether ETFs saw zero flow.

Ethereum’s price fell 1.71% over the past 24 hours. Many experts and analysts said it could hit $100k in the near future. Some experts revealed that the ETH price chart and BTC price were the same as when they had seen the previous chart. However, ETH’s price came back after one year, when on 5 December 2021, it was set at $4000 for the first time. At the time of writing, ETH is trading at $3,883.17.